Moza’s economy grows 3.2% in first half of 2018

news-image

Mozambique’s economy grew at a rate of 3.2% in the first half of 2018, an increase of 20 basis points compared to the same period of last year, the Council of Minister’s spokeswoman said on Tuesday in Maputo.

Ana Comoana, also deputy minister of culture, said that the performance of the economy from January to June is positive and “is essentially a result of the peaceful climate in which the country lives.”

Mozambican daily newspaper Notícias reported that although the growth registered is very close to the value reached in all of 2017 – 3.7% – performance is still modest compared to the forecast of 5.3% for the entire year of 2018.

“Economic growth is well below the average of 7.0% a year between 2005 and 2014,” she added, noting that the suspension of direct aid from cooperation partners and low levels of foreign direct investment have contributed to reduced GDP growth in recent years.

Comoana also said that exports grew by US$205 million to reach US$1.182 billion at the end of June, and the balance of trade recorded a deficit of US$218 million based on imports reaching US$1.4 billion.

The cabinet spokesperson said that although prices rose in the first half of the year with average annual inflation rising to 6.5%, “the government is satisfied that the indicator has been below two digits.” -Macauhub

 

LEAVE A COMMENT

Comments

image

Poachers have broken into Botswana’s p Read more...

10 Aug, 2018 at 01:58 PM

image

In a sign that Botswana is likely to cli Read more...

02 Jul, 2018 at 09:26 AM

image

DAR ES SALAAM - DIRECTIVES on online for Read more...

02 Jul, 2018 at 01:24 PM

image

Gaborone - Poachers have broken into Bot Read more...

04 Feb, 2019 at 07:35 AM

image

Gaborone – The Botswana government has Read more...

25 May, 2018 at 02:35 PM

image

Timo Shihepo Niamey - The world’s l Read more...

12 Jul, 2019 at 02:15 PM

image

Maputo – Mozambican President Filipe N Read more...

12 Jul, 2019 at 02:11 PM

image

Niamey - The African Continental Free Tr Read more...

12 Jul, 2019 at 02:07 PM

image

The Grand Inga Dam hydroelectric project Read more...

12 Jul, 2019 at 01:38 PM

image

Niamey - President of Madagascar and cha Read more...

12 Jul, 2019 at 01:36 PM

image

Windhoek - Namibia’s road network, ran Read more...

04 Mar, 2019 at 10:11 AM

image

Miss Namibia crowned Read more...

20 Mar, 2018 at 05:50 AM

image

Lusaka - Amid myriad criticisms from soc Read more...

14 Dec, 2018 at 06:28 AM

image

Heads of state and ministers who travell Read more...

30 Jul, 2018 at 02:01 PM

image

Windhoek - The European Union National I Read more...

01 Apr, 2019 at 12:33 PM